Paytm FASTags issued by Paytm have become obsolete as of March 15. However, despite this, users with existing Paytm FASTag stickers can still make payments at toll plazas. The Reserve Bank of India (RBI) has stated that while users cannot recharge their Paytm FASTag accounts, they can use the remaining balance for transactions.
According to the RBI, customers with PPBL FASTags can utilize the funds in their accounts for toll charges post the March 15 deadline. Although credit transactions are not allowed, the Paytm wallets can still be used for payments or fund transfers, provided there is a balance available.
The RBI has restricted Paytm Payments Bank from receiving new deposits or processing credit transactions since March 15. However, certain transactions like cashback, interest, and refunds are still permitted. The closure of Paytm Payments Bank was ordered due to compliance and supervisory concerns.
NHAI banned Paytm FASTags nationwide after the RBI’s directive. Many vehicle owners who had opted for Paytm FASTags faced inconvenience. NHAI has updated the list of banks and NBFCs authorized to issue FASTags. Users are advised to deactivate their Paytm FASTag accounts and procure a new one from an authorized issuer to avoid any further inconvenience.
